What Next for xG Technology, Inc. (XGTI) After Forming Bearish Wedge Down?

May 16, 2018 - By Darrin Black

xG Technology, Inc. (NASDAQ:XGTI) Logo

The stock of xG Technology, Inc. (XGTI) formed a down wedge with $0.74 target or 5.00 % below today’s $0.78 share price. The 6 months wedge indicates high risk for the $12.57 million company. If the $0.74 price target is reached, the company will be worth $628,400 less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 7.17% or $0.06 during the last trading session, reaching $0.78. About 207,427 shares traded. xG Technology, Inc. (NASDAQ:XGTI) has declined 18.35% since May 16, 2017 and is downtrending. It has underperformed by 29.90% the S&P500.

More notable recent xG Technology, Inc. (NASDAQ:XGTI) news were published by: Streetinsider.com which released: “xG Technology (XGTI) Announces Retirement of CEO and Executive Chairman George Schmitt; Gary Cuccio Named …” on April 23, 2018, also Streetinsider.com with their article: “xG Technology (XGTI) Announces Further Cost Reduction Initiatives” published on April 30, 2018, Seekingalpha.com published: “XG Technology -1.2% as Q1 swings to loss” on May 15, 2018. More interesting news about xG Technology, Inc. (NASDAQ:XGTI) were released by: Prnewswire.com and their article: “xG Technology to Announce First Quarter 2018 Financial Results Tuesday, May 15, 2018; Conference Call to be Held …” published on May 08, 2018 as well as Globenewswire.com‘s news article titled: “Research Report Identifies Flexsteel Industries, Second Sight Medical Products, XG Technology, CRA International, Inc …” with publication date: May 01, 2018.

xG Technology, Inc. designs, develops, and delivers advanced wireless communications solutions worldwide. The company has market cap of $12.57 million. It offers electronic news gathering, wireless camera, portable microwave, and fixed point to point systems for the broadcasting market; wireless camera systems and mobile radios for the sports and entertainment market; and wireless video solutions, including manned and unmanned aerial and ground systems, mobile and handheld receive systems, and transmitters for the government/surveillance market. It currently has negative earnings. The firm also provides microwave radio components, and satellite communication and associated amplifier products.

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